XRP Ledger has added 32 new millionaire addresses in the past three months, according to data from blockchain analytics firm Santiment, defying the prevailing negative sentiment in the wider market.
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Despite a 29% decline in XRP’s price during the same period, the number of high-value holders continues to climb. Santiment also indicated that XRP’s price recently hit its lowest level since 2024, testing a significant demand zone at $1.
Activity on the XRP Ledger has also surged, with a 33% increase in transaction count. On August 11, 2026, the network recorded its highest daily activity in six months, processing approximately 35,700 transactions per day, a sharp rise compared to July’s daily average of around 26,400.
While the price of XRP fell 29%, network activity on XRP Ledger jumped 33% in three months, hitting its busiest day in half a year on August 11, 2026.
However, this increase in transactions appears to stem primarily from existing XRP holders rather than new wallet creation. The data suggests that current investors are becoming more active, signaling ongoing engagement and possibly a shift toward a long-term holding strategy.
Trading volumes and market sentiment
On the technical front, XRP has remained within a falling wedge pattern between $1 and $3, typically suggesting a potential for future volatility. Analysts continue to watch closely to determine whether XRP will break upward or downward from this formation. Spot trading volumes remain relatively muted, with XRP posting $858 million in volume over a recent 24-hour period, according to CoinGecko.
Futures market activity paints a more dynamic picture. Leveraged traders drove $1.49 billion in 24-hour trading volume, heavily skewed toward long positions. However, the majority of liquidations affected bullish bets, with $1.77 million from a total of $1.85 million wiped out on the long side. The long-to-short ratio across the market now stands at 0.92, indicating more traders are wagering against a price increase.
| Market | Long/Short Ratio | 24h Futures Volume | Daily Liquidations (Longs) |
|---|---|---|---|
| Global | 0.92 | $1.49 billion | $1.77 million |
| Binance | 3.0225 | N/A | N/A |
In contrast, Binance, one of the world’s leading cryptocurrency exchanges, recorded a significantly higher long-to-short ratio on XRP at 3.0225, suggesting greater bullish sentiment among its users. CoinGlass, a platform specializing in derivatives market data, provided these figures, indicating varying sentiment across exchanges.
Santiment’s report links the growth in high-value wallets to possible optimism over ongoing regulatory developments and potential for broader XRP adoption.
Ripple, the US-based technology company behind XRP, continues to support legislative initiatives such as the CLARITY Act. The bill is expected for consideration in mid-September and could deliver clearer regulatory guidance for digital asset markets.
Mini dictionary: CLARITY Act, a proposed US legislative bill aimed at clarifying the regulatory status of digital assets and offering a standardized framework for crypto market participants.
